In a sign that Hallandale Beach remains an attractive place to build office and retail space, an ownership group is looking to sell land on U.S. 1 across from Gulfstream Park to a buyer who might want to build a 20-story office building.

The parcel in play is .77 acres of vacant land at 804 S. Federal Highway. Located on the western side of U.S. 1, the property is zoned for 202,380 square feet of hospitality, office or mixed-use with retail space rising up to 20 stories, Avison Young said in a statement.

The seller is a limited liability company called SMIR 3001 LLC, based in Miami.

In a phone interview, Crotty said he sees an economic spillover effect headed north from Aventura, which he called “one of the best office markets in South Florida. The demographics are amazing in regards to the number of people who live there with significant incomes.”

“I think Hallandale is positioned to have an upswing,” Crotty said. “You see a lot of re-gentrification along the Federal Highway corridor there. I see a lot coming out of the ground.”

Occupants who might take up residence in a new project might be anentrepreneurial person who doesn’t want to commute or pay premium prices for Class A office space, he said.

Hallandale Beach is already the scene of several office building projects. The city has an office vacancy rate of 7 percent, according to Avison Young, and there is demand for new space.

According to the city’s website, developments currently underway include: